Important legal information about the email you will be sending. By using this service, you agree to input your real email address and only send it to people you know. It is a violation of law in some jurisdictions to falsely identify yourself in an email. All information you provide will be used by Fidelity solely for the purpose of sending the email on your behalf. The subject line of the email you send will be "Fidelity.com: "

Ron Baron’s local library was a critical lifeline when he was unemployed.

The 20-year-old resident of Grand Junction, Colo., often found himself hanging out at the library when he was jobless. “It’s one of the only places I could go to without the expectation of spending money,” Baron said.

But the library was more than just a place to relax indoors. Baron also used resources at his library to apply for a job. And when he found out that the job he initially wanted was already filled, library staff helped connect him with a workforce center that helps unemployed individuals find jobs free of charge. “I would have never learned about it otherwise,” he said.

Thanks to that recommendation, Baron now works in housekeeping at a hotel. When he’s not working, he reads books — from his local library — about computer programming in preparation for coursework he plans to complete at the local community college.

Baron is just one of the millions of people nationwide who benefit extensively from the resources libraries provide. Meanwhile, libraries around the country have been in dire straits in recent years as budget cuts everywhere from New York City to Wichita have forced the closure of these beloved community fixtures. Those that have remained open have often had their belts tightened courtesy of city and state lawmakers — even while most have witnessed a noted uptick in visits.

Among libraries’ detractors is Forbes contributor and Long Island University economics professor Panos Mourdoukoutas. In an article for Forbes posted Saturday, Mourdoukoutas argued that libraries “don’t have the same value they used to.” He wrote that companies like Amazon), Netflix, and Starbucks offer better alternatives to some of the various services libraries provide.

And on Twitter Mourdoukoutas doubled-down by noting that for many libraries aren’t actually free, since homeowners often pay additional taxes to fund them. Mourdoukoutas’ take triggered a swift backlash from library supporters and advocates, with many tweeting about the ways in which they benefited from their local libraries. He wrote on Twitter: “Let me clarify something. Local libraries aren’t free. Home owners must pay a local library tax. My bill is $495/year.”

(Forbes has since removed Mourdoukoutas’ article from its website. “Forbes advocates spirited dialogue on a range of topics, including those that often take a contrarian view,” a Forbes spokesperson wrote in an email to MarketWatch. “Libraries play an important role in our society. This article was outside of this contributor’s specific area of expertise, and has since been removed.” Mourdoukoutas did not respond to a request for comment.)

Libraries are very popular—with good reason

Americans still love their local libraries. A staggering 94% of Americans ages 16 and older said that have a public library is beneficial to the quality of life in a community, according to a 2013 study from Pew Research Center. Additionally, 90% said that the closing of the local public library would have a negative impact on their community if it were to happen, even though 52% of people said they need their libraries less these days.

Here are some of the many ways that libraries improve the communities they are located in:

Researchers in Zimbabwe found that the promotion of public library services in the southern African country helped to improve literacy among children and adults, leading to Zimbabwe having one of the highest literacy rates in Africa. Being illiterate has significant financial ramifications—experts have estimated that illiteracy costs the global economy $1.2 trillion each year.

Other studies have shown how having more books in the home will improve a young child’s educational attainment later in life; for low-income families, libraries help to reduce the financial burden of stocking a home library.

Ninety-six percent of libraries have job and employment resources, and it is estimated that roughly 30 million people use those resources in their career search each year.

Utilizing the free resources from libraries —everything from checking out magazines to borrowing power tools to getting free museum passes—can save households hundreds of dollars a year.

Nearly one in four Americans have visited a library to use the computer or access the internet. These people are more likely to be minorities or low-income.

Programming at public libraries, such as classes on nutrition, can help improve people’s health.

The return on investment for a public library varies, but research has generally shown that the money goes to good use. The median ROI for public libraries in Colorado was $4.99, meaning that the public value created by libraries was nearly five times greater than the tax money spent on them, per a study conducted by the Library Research Service. In some parts of the state, the ROI exceeded $30.

Source: MarketWatch

Fines can reduce the benefits of libraries

While most agree that libraries having a significantly positive impact on the communities they serve, some argue that certain policies can bar lower-income individuals from accessing those benefits.

The vast majority (92%) of public libraries collect fines when customers returned borrowed materials late. The average daily fine for late books was 17 cents for adults and 14 cents for children. Most libraries capped the fines at an average of $5 for print materials. The fines were much higher for DVDs, games and devices.

Those fines quickly add up: New York City’s three independent library systems collected $5.5 million in fines in 2015.

Fines can cause people who need libraries the most—lower-income families—to steer clear. While these fees may seem small, for families with little disposable income they can become impediments. In an op-ed for Quartz, New York Public Library CEO Anthony Marx detailed how a homeless family was barred from using a library’s Wi-Fi because of a fine they inadvertently accrued when they lost library materials while moving to a new shelter.

The New York Public Library in 2017 automatically forgave fines for all children under the age of 18 and high school students over the age of 18 to avoid situations like these in a one-off fine amnesty initiative. Other library systems have gone a step further and gotten rid of late fines altogether, instead charging fees for services such as copy machines or replacing library cards to bring in revenue.

Votes are submitted voluntarily by individuals and reflect their own opinion of the article's helpfulness. A percentage value for helpfulness will display once a sufficient number of votes have been submitted.

Important legal information about the e-mail you will be sending. By using this service, you agree to input your real e-mail address and only send it to people you know. It is a violation of law in some jurisdictions to falsely identify yourself in an e-mail. All information you provide will be used by Fidelity solely for the purpose of sending the e-mail on your behalf.The subject line of the e-mail you send will be "Fidelity.com: "

Long-term-care insurance was supposed to help seniors pay for costly nursing homes and personal aides. Now the industry is imploding. Here's what's at stake for more than 7 million Americans who own the policies.

Content for this page, unless otherwise indicated with a Fidelity pyramid logo, is published or selected by Fidelity Interactive Content Services LLC ("FICS"), a Fidelity company with main offices in New York, New York. All Web pages that are published by FICS will contain this legend. FICS was established to present users with objective news, information, data and guidance on personal finance topics drawn from a diverse collection of sources including affiliated and non-affiliated financial services publications and FICS-created content. Content selected and published by FICS drawn from affiliated Fidelity companies is labeled as such. FICS selected content is not intended to provide tax, legal, insurance or investment advice and should not be construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any security by any Fidelity entity or any third-party. Quotes are delayed unless otherwise noted. FICS is owned by FMR LLC and is an affiliate of Fidelity Brokerage Services LLC. Terms of use for Third-Party Content and Research.

These links are provided by Fidelity Brokerage Services LLC ("FBS") for educational and informational purposes only. FBS is responsible for the information contained in the links. FICS and FBS are separate but affiliated companies and FICS is not involved in the preparation or selection of these links, nor does it explicitly or implicitly endorse or approve information contained in the links.

Before investing, consider the funds' investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.

Links provided by Fidelity Brokerage Services

These links are provided by Fidelity Brokerage Services LLC ("FBS") for educational and informational purposes only. FBS is responsible for the information contained in the links. FICS and FBS are separate but affiliated companies and FICS is not involved in the preparation or selection of these links, nor does it explicitly or implicitly endorse or approve information contained in the links.

Published by Fidelity Interactive Content Services

Content for this page, unless otherwise indicated with a Fidelity pyramid logo, is published or selected by Fidelity Interactive Content Services LLC ("FICS"), a Fidelity company with main offices in New York, New York. All Web pages that are published by FICS will contain this legend. FICS was established to present users with objective news, information, data and guidance on personal finance topics drawn from a diverse collection of sources including affiliated and non-affiliated financial services publications and FICS-created content. Content selected and published by FICS drawn from affiliated Fidelity companies is labeled as such. FICS selected content is not intended to provide tax, legal, insurance or investment advice and should not be construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any security by any Fidelity entity or any third-party. Quotes are delayed unless otherwise noted. FICS is owned by FMR LLC and is an affiliate of Fidelity Brokerage Services LLC. Terms of use for Third-Party Content and Research.